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Decree 697/2024 establishes the elimination of withholding taxes for pork chain products to provide greater competitiveness and international projection for a product with high world demand. In addition, it implements a 25% reduction in withholding taxes for all animal proteins, whose current rate is between 4.5% and 9%. Animal proteins constitute a value-added at origin to grains and have a massive federal impact, since sheep, poultry, cattle, and the rest of Argentina's exportable species are produced in all provinces of the country.
In 2023 alone, 25% of the export duties levied on these categories amounted to more than USD 70 million. As a result of these new measures, this amount returns to the production chain and makes processing at origin more competitive.
These provisions, which are part of a broader process of deregulation, lowering of tariffs on agricultural inputs, opening international markets, and simplification of trade control procedures, are aimed at further reducing the burden of the State on agricultural production.
August 6, 2024/ Secretariat of Bioeconomy/ Argentina.
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